What is Nixon Shock?
Series of economic measures taken by then President Nixon in 1971 to combat unemployment and inflation. Responsible for indirectly dismantling the Bretton Woods system and establishing US dollar as fiat currency.
What people ask…
Why did Nixon leave the gold standard?
Why did Nixon end Bretton Woods?
What happened to the US dollar when Nixon closed the gold window?
When did Nixon take us off the gold standard?
See Also…
Commodity, Commodity Money, Representative Money, Fiat Money, International Monetary Fund (IMF)
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